Examination of sales agreement completed - Buyer of Serbian Glass Factory meets contractual obligations

The Ministry of Economy of the Republic of Serbia has announced that the Commission for the control of the execution of obligations of the buyer, that is, strategic investor, specified in agreements signed in the privatization process made a decision at the 24th session (20 October 2015) to issue a certificate of fulfillment of contractual obligations of the buyer of stake in Serbian Glass FActory AD Paracin in restructuring. An agreement on the sale of public stake was concluded 9 November 2006.
In a notice dated 23 October 2015, the Privatization Agency notified the buyer of stake - a consortium consisting of Glass Industry AD and Rubin AD, the guarantor - Corporate Commercial Bank AD, and the subject of privatization - Serbian Glass Factory AD Paracin, that deadlines to fulfill contractual obligations had expired and that the Privatization Agency had no further legal and contractual authority or jurisdiction over the control of the execution of contractual obligations.

A decision on the transfer of own shares from the subject of privatization to the buyer of stake was made 26 October 2015 and will be submitted to the buyer, the subject of privatization and the competent register.

Srpska fabrika stakla a.d. Paraćin

Agencija za privatizaciju Republike Srbije Beograd prestala sa radom 29.01.2016.

Rubin a.d. Kruševac

Ministarstvo privrede Republike Srbije

KTB Bulgaria

Serbian Glass Factory AD Paracin

Privatization Agency

Glass Industry AD

Rubin AD

Corporate Commercial Bank AD

Ministry of Economy of the Republic of Serbia